Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this week’s edition, Brazil streamlines rules for banks entering the crypto industry, a Colombian pension fund-manager reveals the development of a bitcoin investment product, and Revolut applies for a banking license in Peru.
Latam Insights: Brazil Opens Crypto to Banks, Colombian Pension-Fund Manager Reveals Bitcoin Fund
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Brazil Streamlines Rules for Banking Institutions Entering The Crypto Market
Brazil is streamlining the process for banking institutions and brokers entering the cryptocurrency industry.
The Central Bank of Brazil recently issued IN 701/2026, a set of rules for banking institutions and brokers offering crypto-related services, establishing new compliance requirements.
Before operating, these institutions will have to enlist the services of an independent, qualified company to certify that they comply with the rules issued by the bank for virtual assets service providers (VASPs).
These independent companies must certify that the institutions segregate assets, meaning that user funds cannot mingle with the company’s own resources, and provide proof of reserves for all the digital assets owned by customers and the company.
Colombian Pension-Fund Manager Proteccion Reveals Bitcoin-Exposure Fund in the Works
Proteccion, a Colombian pension-fund manager, revealed it plans to launch a bitcoin investment product soon, taking advantage of the popularity of digital assets in the country.
Proteccion’s President, Juan David Correa, explained that this new product was part of an institutional diversification push.
Talking with Primicia, he stated:
“Beyond a particular product, our ongoing conversation is about having in our portfolio all the investment alternatives that are part of the local and international financial markets.”
Customers with a risk profile adapted to bitcoin’s particularities will be able to take advantage of this instrument with a percentage of their portfolio, Correa declared.
Revolut Applies for Banking License in Peruvian Expansion Push
Revolut, a financial neobank based in London with over 70 million customers, has recently announced its expansion plans into Peru, disclosing that it has applied to receive a banking license to offer financial services in the country.
The move is focused on establishing a foothold in Peru, which has a large level of smartphone penetration, but whose adult population still lacks access to financial services in a significant proportion.
Convinced that it can help offer improved access to financial tools to more Peruvians, the company stated that its entrance into the country will “accelerate the country’s digitalization, competition and financial inclusion goals.”
FAQ
- What regulatory changes is Brazil implementing for crypto market entry? The Central Bank of Brazil introduced IN 701/2026, establishing compliance rules that require banks and brokers to certify asset segregation and proof of reserves before entering the crypto industry.
- What new investment product is Proteccion planning to launch in Colombia? Proteccion, a Colombian pension-fund manager, aims to introduce a bitcoin investment product soon as part of its strategy to diversify its investment portfolio.
- How is Revolut expanding its services in Peru? Revolut has applied for a banking license in Peru to enhance access to financial services, targeting a population with high smartphone usage and significant unbanked adults.
